Bitcoin bounty: Exchange offers $250,000 reward for info on hackers

A bitcoin exchange has offered a $250,000 (£180,000) reward for information leading to the arrest of hackers who attacked its platform last week.

Cryptocurrency exchange platform Binance announced the reward yesterday following the attempting hacking attack on 7th March which it described as a “large-scale, organised effort”.

The exchange said that in addition to the $250,000 reward, which would be paid in cryptocurrency, it has also has established a $10m cryptocurrency reserve fund to pay rewards in case of future hacking attempts.

Binance said that it had established the reward as part of a proactive effort to defeat hackers.

“To ensure a safe crypto community, we can’t simply play defence. We need to actively prevent any instances of hacking before they occur, as well as follow through after-the-fact,” it said in a post on its website.